Closing Bell :– The BSE midcap index fell 0.4 percent, while the smallcap index finished unchanged.
Closing Bell: Sensex falls 237 pts , closed at 63,591 level : While Nifty closed at 18,989 level
Indian Market
FII AND DII
| FII Sold | 696.02 Cr |
| DII Purchased | 340.25 Cr |
Stock Market News
- Dabur India, Nestle India, and Britannia Industries drove the Nifty FMCG index down 0.5 percent:
- The BSE Power index fell 0.4 percent, led by Adani Energy, CG Power, and JSW Energy:
- The Nifty Metal index fell 0.7 percent, led by Jindal Steel, APL Apollo, and Coal India.
- IDFC First Bank, Kotak Mahindra Bank, and Axis Bank drove the Nifty Bank index down 0.3 percent.
- October GST income collection increased 13% year on year to Rs 1.72 lakh crore.
- China’s factory activity fell in October, according to the Caixin PMI.
- Bharti Airtel’s second-quarter performance fell short of expectations. Profit drops 17% year on year at Rs 1,341 crore, while EBITDA margin rises by 40 basis points.
- L&T Q2 earnings exceeded expectations; profit increased 45% year on year to Rs 3,223 crore, with order inflows up 72%.
- Jindal Steel and Power’s net profit more than triples to Rs 1,390 crore in the second quarter.
- Tata Consumer Products Q2 net profit increased marginally to Rs 359.18 crore, while revenue increased 11.02%.
- Thyrocare’s net profit increased 31.75% to Rs 20.33 crore in the second quarter.
- ATF Price Cut | The price of jet fuel (ATF) in Delhi has been reduced to Rs 1.11 lakh/kL from Rs 1.18 lakh/kL, according to CNBC-TV18.
- Inox Wind Energy raises around Rs 800 crore through the sale of equity shares in Inox Wind.
- Total vehicle sales increased by 32% year on year to 80,679 vehicles.
- Blue Jet Health floated with a 10% premium at Rs 380 per share, compared to the issue price of Rs 346 per share.
- Adani Total Gas shares rise after Q2 net profit increases by 8%.
- DCB Bank’s Q2 profit improves 13% year on year to Rs 127 crore, while asset quality deteriorates.
- Jindal Steel & Power’s Q2 profit more than doubles to Rs 1,390 crore, but revenue falls 9.4% year on year.
- Escorts Kubota October Auto Sales | Total sales were down 8.9% year on year at 13,205 vehicles versus 14,492 units.
- Bajaj Auto October Auto Sales | Total sales increased 19% year on year to 4.71 lakh units from 3.95 lakh units.
- On Day 2, the Mamaearth IPO received 62% subscriptions, with the retail half receiving 54%.
- Cello World IPO: 34 times subscription on the final day, backed by QIBs and HNIs
- Blue Jet Healthcare is trading at a 14% premium to its IPO price.
- Ambuja Cements’ Q2 net profit was Rs 644 crore versus Rs 137 crore, while revenue increased by 8% year on year to Rs 3,969.8 crore versus Rs 3,670.4 crore.
| SENSEX | -283.60 | -0.44% |
63,591.33 |
| NIFTY50 | -90.45 | -0.47%% | 18,989.15 |
| BANK NIFTY | -145.00 | -0.34% | 42,700.95 |
INDIAN MARKET MOVERS
Sun Pharma |
27.60 2.54% | Adani Enterpris | -77.35 -3.37% |
| BPCL | 7.65 2.19% | Coal India | -7.60 -2.42% |
| Hindalco | 3.20 0.70% | SBI Life Insura | -31.80 -2.32% |
| Bajaj Auto | 30.30 0.57% | Asian Paints | -61.15 -2.04% |
| Reliance | 9.50 0.42% | Adani Ports | -15.65 -1.99% |
News Updates
Mark Mobius sees Sensex at 1 lakh in next 5 years; bets on Dreamfolks, MapmyIndia and more
Mark Mobius, a global investment guru, predicts that the Sensex will reach 1 lakh in the next five years. He believes that the Indian equity market, particularly in emerging markets, will continue to grow. Mobius believes that the US 10-year Treasury offers a risk-free return of 5%, making the case for equities weak. However, he believes that the long-term growth story for India remains intact. In the past two weeks, the Nifty and Sensex have corrected almost 3.5% due to rising tensions in Israel, higher bond yields, and volatile crude prices.
L&T Q2 results: Profit jumps 45% to Rs 3,223 crore, revenue up 19% at Rs 51,024 crore
Larsen & Toubro (L&T) reported a 45 percent increase in net profit to Rs 3,223 crore in Q2 2023-24, and a 19 percent rise in consolidated revenue to Rs 51,024 crore. The company’s higher-than-expected sales growth was attributed to execution tailwinds in the infrastructure projects segment and sustained growth momentum in the IT and ITeS portfolio. The company is expected to increase its revenue and order inflow guidance for the rest of the fiscal year.
TVS Credit Services posts 14% rise in AUM at Rs 23,516 crore as of September 2023
TVS Credit Services Ltd, a leading non-banking financial company, has seen a 14% increase in its assets under management to Rs 23,516 crore as of September 30, 2023. The company registered an AUM of Rs 20,602 crore as of March 31, 2023. It also reported a 40% growth in its net profit after tax for the quarter ending September 30, 2023, at Rs 134 crore, compared to Rs 96 crore in the corresponding quarter of last year. The company’s business experienced significant growth in H1 FY24, with a book growth of 59% compared to H1 FY23, largely driven by strong consumer loan performance.
L&T forays into designing for fabless semiconductor chip
Larsen & Toubro is set to establish a subsidiary to focus on fabless semiconductor chip design and product ownership, with an investment of up to Rs 830 crore. The company’s board approved the incorporation of a wholly-owned subsidiary, with R Shankar Raman, L&T’s chief financial officer, stating that the company will focus on the “low investment” part of the supply chain and not enter manufacturing due to the competitiveness of global manufacturers, particularly those in China. The company’s strategy is to focus on the “low investment” part of the supply chain.
India hikes windfall tax on petroleum crude to Rs 9,800/ton
India has increased the windfall tax on petroleum crude to Rs 9,800/ton from Rs 9,050/ton, effective from November 1, according to a government notification. The tax on aviation turbine fuel has been reduced from 1 rupee per litre to nil, and diesel has been reduced from Rs 4/litre to Rs 2/litre. Crude oil prices are currently trading around $85 per barrel due to supply tightness and geopolitical tensions.
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Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell Closing Bell latest news fClosing Bell tyClosing Bell above 19,700, Sensex up 385 points; gains in capital goods, real estate, and banks
Force Motors announces August production of 3,032 automobiles.
Power Mech Projects climbs more than 2% after receiving a Rs 625 crore order.
Hitachi Energy India rises nearly 4% after receiving an order.
Quant Mutual Fund invests Rs 86 crore in JM Financial, while Valiant Mauritius Partners sells 0.8% of its holding.
Baring Private Equity sells Rs 34.7 crore in PG Electroplast shares.
Small Cap World Fund and New World Fund sell Rs 884.43 crore in Shriram Finance shares.
Nazara Technologies will offer 57.42 lakh preferential shares to SBI Funds at Rs 714 per share.
Cochin Shipyard Large Trade | According to CNBC-TV18, 8.6 lakh shares (0.7 percent e
Data from China | Exports were down 8.8% in August, while imports were down 7.3% year on year.
Indian Railways awards Responsive Industries a contract for the Garib Rath Initiative.
CNBC-TV18 reported that Bikaji Foods International Large Trade | 14.1 lakh shares (0.6 percent equity) worth Rs 71.3 crore change hands at Rs 507 per share.
PVR INOX stock rises as SRK’s ‘Jawan’ hits theaters, and the industry anticipates a blockbuster opening.
L&T rises on rumours of a possible order from Saudi Aramco for a gas project.
Varroc Engineering to acquire a 26% share in AMP Energy SPVs TCS forms strategic cooperation with JLR’s digital unit
Tata Motors August Auto Sales | JLR UK sales are down 23.6% year on year at 1,479 units versus 1,935 units.
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